Neca IBEW Welfare Trust Fund

What Neca IBEW Welfare Trust Fund does

NECA IBEW Welfare Trust Fund is a Taft-Hartley jointly trusteed multi-employer welfare benefit plan administered by the IBEW-NECA Benefits Administration Association, headquartered at 2120 Hubbard Ave, Decatur, Illinois. The fund provides health and welfare benefits — medical, prescription drug, vision, dental, wellness, life insurance, retirement, and employee assistance — to IBEW union electrical workers and their families whose coverage is funded by contributions from NECA signatory employers under collective bargaining agreements. It operates alongside affiliated plans: the NECA-IBEW Pension Trust Fund and the IBEW-NECA Conduit 401k Plan (administered by John Hancock).

Operationally, the fund does not deliver care or insurance directly; it acts as the plan sponsor and administrator, contracting with United Healthcare (Choice Plus PPO network, effective January 1, 2026, replacing Blue Cross Blue Shield), MedImpact (pharmacy network with 90-day retail maintenance access from August 1, 2026), EyeMed (vision), Humana (Medicare Advantage for over-65 retirees, administered by RetireeFirst), and a growing layer of no-cost digital health point solutions including Hello Heart, Sword Health, Progyny, and Color. Member-facing technology includes a Member Benefits Portal, HRA Participant Portal, eCheck payment system, and a third-party Health Care Cost Estimator (Daylight). The fund transitioned to non-grandfathered ACA status in 2024.

Revenue is not publicly disclosed and is generated from employer contributions negotiated through collective bargaining rather than market-priced premiums. The fund is private, governed jointly by labor (IBEW) and management (NECA) trustees, with no PE/VC ownership, and operates exclusively within Illinois.

Name

Neca IBEW Welfare Trust Fund

Legal name

IBEW-NECA Benefits Administration Association

Website

https://neca-ibew.org

Company type

Private

Founded year

1955

Operating status

Operating

Headcount range

11–50 employees

Short description

The NECA IBEW Welfare Trust Fund is a Taft-Hartley jointly trusteed welfare benefit plan administered from Decatur, Illinois, providing health, prescription, vision, dental, retirement, and wellness benefits to IBEW union electrical workers and families across Illinois through employer contributions negotiated under collective bargaining.

Ownership category

akta.pro rank

Product category

Multi-Employer Health & Welfare Benefits Administration

NAICS

Health and Welfare Funds (52512)

SIC

Hospital & Medical Service Plans (6324)

akta.pro primary industry

Employee Benefit & Retirement Plan Trust Services (FSAAANAC)

akta.pro secondary industry

Flexible Benefits Administration (FSA/HSA/HRA) (HLAEALAK)

Keywords

• Multi-employer welfare fund
• Union benefits administration
• Jointly trusteed benefits
• Retirement plan services
• Health insurance administration

Headquarters

HQ city

Decatur

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales

Distribution channels4 records

Marketing channels2 records

Core offering

The NECA-IBEW Welfare Trust Fund is a jointly trusteed, multi-employer employee benefits plan administered by the IBEW-NECA Benefits Administration Association that delivers collectively bargained health, welfare, and retirement benefits to IBEW electrical workers and their dependents. The fund bundles medical PPO coverage, prescription drug benefits, vision care, dental coverage, wellness programs, employee assistance, health reimbursement arrangements, pension benefits, and a 401(k) retirement savings plan, distributed through contracted partner networks.

Product overview

NECA-IBEW is a multi-benefit trust fund administration providing comprehensive health and welfare benefits to NECA and IBEW members. The core offering is the Welfare Trust Fund, which administers medical, prescription, and dental benefits through integrated network providers including United Healthcare (PPO), MedImpact (pharmacy), and EyeMed (vision). The portfolio includes add-on wellness programs such as Hello Heart for cardiovascular monitoring, Sword Health for digital physical therapy, Progyny for fertility benefits, and Color for cancer screening services. Retirement benefits are supported through the Pension Trust Fund and the IBEW-NECA Conduit 401k Plan. The fund transitioned to United Healthcare from Blue Cross Blue Shield in January 2026 and operates as a non-grandfathered plan under the ACA.

Differentiator

Problem solved

Functional benefit

Brands

• Welfare Trust Fund: Health and welfare benefits plan for active employees
• Pension Trust Fund
• IBEW-NECA Conduit 401k Plan

Products and services

• NECA-IBEW Welfare Trust Fund Jointly trusteed health and welfare benefits plan for NECA-IBEW members, providing medical, prescription, vision, and dental benefits through partner networks (United Healthcare PPO, MedImpact pharmacy, EyeMed vision), plus wellness programs, HRA, and EAP.
• NECA-IBEW Pension Trust Fund Pension benefits program providing retirement income for eligible NECA-IBEW electrical workers and their beneficiaries.
• IBEW-NECA Conduit 401k Plan Retirement savings 401(k) plan for eligible NECA and IBEW employees, administered through John Hancock.

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Six partnerships are on record, tiered core.

• MedImpactcoreTechnology or Integration · 1 August 2026MedImpact administers the pharmacy network for the fund. Beginning August 1, 2026, eligible maintenance medications can be filled as a 90-day supply at any participating MedImpact network retail pharmacy, expanding prescription drug access for members.
• United HealthcarecoreTechnology or Integration · 1 January 2026United Healthcare provides the in-network medical PPO network (Choice Plus) for the NECA-IBEW Welfare Trust Fund. Effective January 1, 2026, the fund transitioned from Blue Cross Blue Shield to United Healthcare to provide medical benefits to active employees and pre-65 retirees. New insurance cards are issued to members.
• Humana Medicare AdvantagecoreTechnology or IntegrationProvides Medicare Advantage coverage for over-65 retirees, spouses, and dependents. Medicare-eligible retirees transitioned to this plan effective January 1, 2023.
• RetireeFirstcoreTechnology or IntegrationAdministers the Humana Medicare Advantage plan for over-65 retirees, providing service and support for Medicare-eligible members.
• EyeMed Vision CarecoreTechnology or IntegrationEyeMed administers the vision benefits network (Insight Network) on behalf of the Fund. Participants and dependents eligible for vision benefits can access providers for exams, frames, lenses, and contacts at discounted rates.
• John HancockcoreTechnology or IntegrationAdministers the IBEW-NECA Conduit 401k Plan, providing retirement savings benefits for eligible members.

Recent moves6 records

Expansion highlights3 records

Direct peers

• IBEW Local 134 Welfare Fund: Jointly trusteed IBEW welfare fund serving Chicago-area NECA electrical workers. Operates the same Taft-Hartley multi-employer model with comparable medical, pension, and 401(k) plan structure.
• IBEW Local 701 Health & Welfare Trust Fund: Taft-Hartley welfare fund for IBEW Local 701 (suburban Chicago / Warrenville, IL) NECA-signatory electrical workers. Overlapping Illinois geography, identical union, and parallel plan design.
• IBEW Local 47 Welfare Trust Fund: Illinois-based IBEW local welfare fund serving NECA electrical workers. Comparable collective-bargained health, welfare, and pension administration with similar participant profile.
• IBEW Local 3 Health & Welfare Fund: Large IBEW local welfare fund serving New York City metropolitan area NECA-signatory electrical workers. Same union, parallel jointly-trusteed structure, materially larger scale provides a comparable benchmark.
• National Electrical Benefit Fund (NEBF): National IBEW pension and welfare vehicle covering participating NECA local funds across the U.S. Provides a national-level benchmark for plan design and asset stewardship for affiliated welfare trusts.
• Philadelphia NECA-IBEW Welfare Fund: Joint NECA-IBEW welfare trust serving Philadelphia-area electrical workers. Operates the same jointly-trusteed model and benefit lineup, providing a regional comparator outside Illinois.
• Operating Engineers Local 150 Welfare Fund: Large Illinois-based Taft-Hartley welfare fund for heavy equipment operators. Same multi-employer trust structure and Illinois geography, with comparable medical, prescription, and pension plan design.
• Chicago Laborers' Pension and Welfare Funds: Jointly-trusteed labor-management welfare fund for Chicago-area laborers. Operates under the same Taft-Hartley framework with similar benefit offerings and serves an overlapping unionized construction population in Illinois.
• Carpenters Health and Welfare Fund of Chicago: Jointly-trusteed carpenters' welfare fund serving Chicago-area NECA-adjacent construction trades. Comparable multi-employer trust structure, Illinois geography, and benefit design.
• Mid-America Carpenters Regional Council Health & Welfare Fund: Taft-Hartley welfare fund covering union carpenters across the Midwest, including Illinois. Operates under the same jointly-trusteed multi-employer model with medical, pension, and ancillary benefits.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks7 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/NECAIBEWBenefits

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Neca IBEW Welfare Trust Fund